b'FeBRuaRy 8 - 21, 2021top north american exporters & importers 7(RESETcontinued fromexample, is now heavily inte- EuropeanUnion.(SeeMattover the next several years. In the case of steel and alu-page 4) gratedthroughNorth Amer- Miller story in 717 edition) One nagging trade issueminum, his administration in destinationofchoice.Thatica, with highly sophisticatedIn fact, Brexit could causemayberesolved,however.2018 tagged overseas produc-caused US-Vietnam businesssupply chains. some more substantive changes.Rabinowitz, for one, believesersprettymuchuniversally to rapidly escalate and a tradeThere are some worryingFor one, logistics will becometheBidenadministrationwith steep penalties of 25% for imbalance to swiftly develop.signs,however.Mexicoismuch more complicated. Nomaywelltrytoworkoutasteel and 10% for aluminum. Trumps response to thedoing a lot of things to makelonger will exporters be abledeal on the retaliatory tariffsThatimpactedChina,which trade gap was to punish Viet- investmenttheremorediffi- to ship into, say, Amsterdam,on the long-standing disputeistheworldsbiggeststeel nam, but he ran out of timecult. Thelevelofinsecurityand distribute to both the EUbetween Boeing and Airbus.producer, but it also penalized forimplementation.Bidensisveryhigh,soyourcostsand Britain from there. Like- overseas producers elsewhere. approach will most likely beare going up associated withwise,thosewhocenteredIntermsofsteel,Canadian, more accommodating.that, said Miller, who adds,theirdistributioninBritainMexicanandAustralian Onelarger,andlongerMexicoisinapositiontomust at the very least set upmanufacturerswereeventu-term question is whether thetakeadvantageofalotofanother warehouse in the EU. ally exempted, but European US could somehow hitch itselfthings that wed like to moveIn addition, Britain couldandotherAsianproduc-to the Comprehensive and Pro- outofChinalikeprecursorwell lose its appeal to export- ers,includingJapan,Korea gressive Agreement for Trans- chemicalsforpharmaceuti- erswhomightchoosetoandTaiwan,remainstuck. Pacific Partnership (CPTPP). cals.Buttheyrenot[posi- focus only on the EU. The result was a disaster for In 2017, Trump withdrewtioned to do so] Whats more, British PrimemanyAmericanmanufactur-the US from the Trans-PacificMinister Boris Johnsons cal- erswhoreliedespeciallyon Partnership, a mammoth freeeu/uK:culus that the UK and the USspecialtysteelproductsthat trade zone that linked a dozenAt first glance, US com- can fashion a quick free tradecouldonlybesourcedfrom Pacific Rim countries and wasmercewithEuropepost- pactandneutralizesomeofone or two producers. Ameri-afavoredprojectofBarackBrexit is more an accountingthe damage of Brexit went outcansteelproductiondidnt Obama. (Congress never rati- exercisethananalterationthewindowwhenTrump,aPrime Minister Boris Johnson rebound,eitherandiseven fied the treaty.) The remainingintradeflow.Tradewithvocal advocate of Brexit, wasmoredepressednowthan eleven nations, which includetheUK,thethinkinggoes,defeated. Theres probably noG lobal : before the Trump action.Japan,Vietnam,Australia,should remain the same, butchance of a free trade agree- Trump didnt just levy tar- (RESETcontinued on Mexico,ChileandCanada,isnowseparatefromthementbetweenthetwoeveniffs on country-specific goods.page 21)fashioned the CPTPP.Biden said in the presiden-tial campaign that he doesnt want to rejoin the CPTPP in its current form, although he leftopenthepossibilityof membershipifenvironmen-talandlaborstandardsare strengthened. That would take a re-authorization of negotiat-ingauthority,whichexpires the end of June, but with the DemocratscontrollingCon-gress, it shouldnt be difficult.AS ONE, WE CAN. ONE DELIVERS YOUR EVERYDAYWith weekly liner services to all major trade lanes around the world, Ocean Network Express (ONE) o\x02ers customers a superior level of service and convenience when it comes to ocean freight shipments between any key regions of the world. 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